NBCC’s records highest-ever sale value with Avenue Towers e-auction

NBCC (India) Limited has realised a sale value of approximately ₹5,191 crore from the e-auction of premium residential units at Avenue Towers, Africa Avenue, New Delhi. This is the highest sale value NBCC has ever recorded in a single residential e-auction.

The units were bid successfully, with a combined super built-up area of approximately 8.79 lakh sq ft, drew strong response from bidders (prominent members of the society). The average sale rate settled at ₹59,014 per sq ft, which was ₹21,853 per sq ft (58.8%) above the reserve price.

The funds realized through this e-auction will be utilised towards financing various ongoing redevelopment works, supporting project completion timelines and meeting financial obligations under the Ministry of Housing and Urban Affairs (MoHUA).

These flats located at Africa Avenue, New Delhi are part of 7GPRA redevelopment programme, approved by the Union Cabinet, aims to create modern, sustainable government housing while optimising land use in the national capital.

The GPRA redevelopment programme follows NBCC’s innovative, self-sustainable redevelopment model, wherein ageing government colonies are transformed into modern residential complexes, and commercial assets are monetised to generate revenue for redevelopment.

With this transaction, NBCC has further strengthened its position as a leading public sector enterprise in real estate and set a new benchmark for transparent, technology-driven property monetisation